Getting started - preforeclosures

[Nate H.]

Hello all,
I wanted to know where this community stands on preforeclosures and how to go about acquiring one. One method I've read about is finding someone who is defaulting on their mortgage and sending them a letter offering to help. But how am I to find these people? I've looked at the registrar of deeds in my county (their website) but I can't search it the way I'd like (by looking for "notice of default" or "lis pendens."

Also there is the yahoo/realestate site which will have some properties but I'm never sure if the price listed is a second mortgage or what.

Any techniques for finding motivated sellers in default or divorcees looking to sell?

I don't think putting up fliers on a lamp post saying "we buy houses" is a viable business plan -- am I wrong?